United StatesOil And Gas

BP (NYSE:BP) expects stronger oil realizations to add US$1.8 billion–US$2.1 billion to second-quarter upstream earnings despite production falling to 2.17 million–2.22 million boe/d.

Brent crude rose US$2.74, or 3.29%, to US$86.04, while West Texas Intermediate crude gained US$2.21, or 2.83%, to US$80.35 as renewed U.S.-Iran attacks threatened Strait of Hormuz energy flows.

President Donald Trump said the United States was reinstating a naval blockade on Iran after Tehran claimed it had closed the Strait of Hormuz, a major global oil shipping route.

Halliburton (NYSE:HAL) secured major integrated well construction contracts for the GranMorgu deepwater development offshore Suriname, operated by TotalEnergies, covering drilling and completion services under a long-term program.

SLB (NYSE:SLB) announced that its OneSubsea joint venture was awarded a major engineering, procurement and construction contract by Eni for Phase 3 of the deepwater Baleine project offshore Côte d’Ivoire, covering subsea production systems for 13 wells.

Greenfire Resources (NYSE:GFR) agreed to acquire private thermal oil sands producer Connacher Oil and Gas for an estimated C$1.277 billion in cash, net of expected closing adjustments, expanding its production base and reserves position.

Northern Oil and Gas (NYSE:NOG) reported second-quarter business updates, including estimated derivative gains of $155 million to $160 million, share repurchases of 2.95 million shares and an expanded share repurchase authorization of approximately US$243 million.

Brent crude futures rose 4% to above $79 per barrel in Asian trading after renewed U.S.-Iran tensions and claims of disruption around the Strait of Hormuz increased concerns about global oil supply.

Chevron (NYSE:CVX) signed a five-year natural gas supply agreement with Alinta Energy to deliver 46 petajoules of gas in Western Australia from July 2027, extending a partnership that has operated for more than 40 years.

Oil prices declined on Friday but remained on track for weekly gains after renewed U.S.-Iran military tensions disrupted shipping through the Strait of Hormuz, raising concerns about possible energy supply interruptions.

BP (NYSE:BP) Chief Executive Officer Meg O’Neill announced that the company is actively simplifying its operational portfolio.

Chevron Technical Center, a division of Chevron U.S.A. (NYSE:CVX) and a subsidiary of Chevron Corporation, has finalized a technology licensing agreement allowing ZL Chemicals to commercialize its proprietary advanced chemical surfactant technology.